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UK manufacturing sector hit by highest cost increase in 30 years – Survey

According to the firm's latest survey, the rate of growth in the UK manufacturing sector slowed in November compared with previous months and input costs mounted, despite rates of expansion in output and new orders gaining some traction.

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London: UK manufacturers continued to face a challenging operating environment in November when supply chain disruptions and labour shortages drove input prices to their highest level in the last 30 years, London-based information and analytics provider IHS Markit said on Wednesday.

According to the firm’s latest survey, the rate of growth in the UK manufacturing sector slowed in November compared with previous months and input costs mounted, despite rates of expansion in output and new orders gaining some traction.

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“Manufacturers are facing a challenging backdrop, with rising supply chain disruptions, staff shortages and inflationary pressures stifling growth, while ongoing difficulties caused by Brexit and logistical headaches restrict opportunities to expand into overseas markets,” IHS Markit director Rob Dobson said.

The survey, which the firm said was compiled from responses to questionnaires sent to purchasing managers of around 650 manufacturers, showed that there were reports of weaker demand from China, disruption to trade with the European Union as a result of ongoing Brexit complications, and the cancellation of some orders due to extended lead times.

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